After the correction in December, it seems like gold is heading up again once more. Price now is already above the 200-day moving average.
Gold has broken through the resistance trend line as show in the chart (click for bigger view). I am using ichimoku clouds to aid me once more. 4 reasons why gold is turning bullish again (solely my opinion).
1. Breakout from the trendline
2. Chikou span broke through cloud (to give confidence that it’s a not fake breakout)
3. Kumo Twist (future sentiment is turning bullish)
4. Price is above cloud
I am long gold now. Expect to test resistance at about 1,756 region.
The information above is just my personal opinion. I could be wrong and I am always wrong.